Business week in pictures

The technology industry faces a growing shortage of semiconductors and other high-tech components following a failure to invest in new manufacturing facilities during the recession, experts have warned. Smartphone makers are now finding it harder to lay their hands on chips and display screens, leading to supply delays on some handsets Photograph: Zigy Kaluzny/Stone Sub

Persimmon, one of Britain's biggest housebuilders, has restored its half-year dividend after reporting a surge in profits. The move indicates growing confidence in the housing market and comes a day after smaller rival Bovis Homes said it would reinstate its payout to shareholders at the end of the year, as long as the market does not go into reverse Photograph: Matt Cardy/Getty Images

Fears intensified that the US was heading for a double-dip recession that could reverberate around the world after figures showed American home sales slumped twice as fast as expected last month to a 15-year low Photograph: Michael Reynolds/EPA

After years of controversy and confusion, Vedanta's project to mine bauxite on a forested hill considered sacred by an ancient tribe has been stopped by the Indian government. 'There's no emotion, no politics, no prejudice,' environment minister Jairam Ramesh said as he announced that Vedanta would not be allowed to mine in the Niyamgiri Hills of the eastern Orissa state. 'I have taken this decision purely on a legal approach – laws are being violated.' Photograph: Gethin Chamberlain/Gethin Chamberlain

The recession may have called time on pub crawls and exotic mini-breaks but an in-depth study of the UK's spending habits paints a picture of vain Britons who give priority to spending on clothes, beauty treatments,underwear and pets. The British Lifestyles report by research group Mintel found that while households have tightened their pursestrings to cope with the downturn many long-term spending trends persist. A hefty chunk of disposable income is devoted to alcohol, clothing and trips to the salon after we've taken care of essential bills and transport Photograph: Frank Baron/Guardian

After nearly two decades on the run Asil Nadir, the former boss of Polly Peck, headed back to the UK to face fraud charges Photograph: Daniel Deme/EPA

Mixing digestive biscuits and tomato soup may outrage the taste buds, but the two products could soon be owned by the same firm as Campbell Soup Company prepares to launch a bid for United Biscuits. This would give it control of brands including Penguin chocolate bars, Jaffa Cakes and the McVitie's Digestives, Rich Tea and HobNobs biscuits Photograph: Peter Byrne/PA Archive/Press Association Images

Cairn Energy has confirmed that it has discovered gas and oil-bearing sands off the coast of Greenland in a move that will heighten fears of environmental campaigners that the Arctic is set to become the scene of the world's last great dash for oil. Greenpeace's ship Esperanza is already in the area, protesting against the actions of Cairn Energy, the first company permitted to drill for oil in the sensitive environment Photograph: Will Rose/Will Rose/Greenpeace

It can withstand sniper fire, roadside bombs and possibly even unhappy ex-wives, who may attempt to claw at the passenger door after receiving their divorce papers. Jaguar – the Indian-owned but British-based carmaker – chose Moscow's international motor show to unveil the ultimate vehicle for the security conscious oligarch – the XJ Sentinel Photograph: Misha Japaridze/AP

Sir Stuart Rose said he hoped the choice of veteran investment banker Robert Swannell to succeed him as chair of Marks & Spencer would 'heal the wounds' caused by a controversial two year reign as executive chairman. The retailer confirmed Rose would leave at the end of the year, more than six months before the deadline set when he took on the controversial role. Swannell, who helped the retailer to fend off a bid from Sir Philip Green in 2004, will take up the office on 4 January Photograph: HMV/PA

Sir Martin Sorrell, chief executive of WPP, has warned that the world faces a slow 'slog' out of recession, and welcomed the austerity measures being implemented by George Osborne. Speaking after WPP, the world's largest advertising group, posted a 36% jump in profits, Sorrell cautioned that the global economy is a long way from robust health. He also coined a new phrase – the 'LuVVy' recovery – to describe the way that various key markets have emerged from the downturn Photograph: Martin Argles/Guardian

The boss of BHP Billiton, the world's biggest mining firm, has pledged not to overpay in its audacious attempt to gain control of Potash Corp. The comments from Marius Kloppers came as BHP revealed it had more than doubled annual profits, its second best performance ever, but sounded a note of caution about the global economy Photograph: Mark Lennihan/AP

Two in five former Woolworths stores are still standing empty, two years after the retailer's dramatic collapse, researchers have found. The chain fell into administration in November 2008 and the following January 807 Woolworths stores closed their doors for the last time. One of the most high-profile failures of the recession, the pick'n'mix sweets to homewares retailer was dubbed the Northern Rock of the high street Photograph: David Sillitoe ~/Guardian